ING Groep NV Purchases 6,364 Shares of WEC Energy Group, Inc. (NYSE:WEC)

ING Groep NV increased its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 98.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,805 shares of the utilities provider's stock after acquiring an additional 6,364 shares during the period. ING Groep NV's holdings in WEC Energy Group were worth $1,204,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Coastline Trust Co bought a new stake in shares of WEC Energy Group during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in WEC Energy Group during the third quarter valued at approximately $45,000. Human Investing LLC bought a new stake in WEC Energy Group during the fourth quarter valued at approximately $52,000. Bank of Jackson Hole Trust bought a new position in WEC Energy Group in the fourth quarter worth approximately $59,000. Finally, Kestra Investment Management LLC bought a new position in WEC Energy Group in the fourth quarter worth approximately $61,000. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock traded up $0.04 on Thursday, hitting $105.75. 2,138,040 shares of the company traded hands, compared to its average volume of 2,198,520. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The business has a 50-day simple moving average of $98.44 and a 200 day simple moving average of $96.75. WEC Energy Group, Inc. has a 52 week low of $76.78 and a 52 week high of $106.75. The stock has a market capitalization of $33.45 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49.

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WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The business's revenue was up 3.0% on a year-over-year basis. Research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, February 14th. WEC Energy Group's dividend payout ratio (DPR) is presently 73.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. KeyCorp raised their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Bank of America upgraded WEC Energy Group from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. BMO Capital Markets raised their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company upped their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $101.88.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.44% of the stock is currently owned by insiders.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.